HOW TO UNDERMINE THE ECONOMY
August 2, 2009
If you wanted to come up with a plan to undermine the economy of the most prosperous and successful nation on earth, how would you go about it?
The first thing you'd have to do would be to debase the underlying value system that provides the foundation for prosperity. That is, the value system to which the founders of this nation, and many generations of immigrants who came here seeking opportunity, subscribed. The core of that value system is the belief that you do not deserve anything you have not earned.
The first step would be to condition the populace to believe that prosperity is bad, that anybody who makes more than a modest income must be evil (or at least dishonest), and that nobody really deserves to be rich, no matter how much they contribute to the economy or how many opportunities they create for others. The rich, by definition, are always a minority, since the term itself implies someone who has substantially greater wealth than the average person. All that's usually needed to turn the many against the few is a sense of grievance.
Fostering a sense of grievance can be accomplished by promoting the notion that everybody, by virtue of their very existence, is entitled to basic sustenance, such as healthcare, food, shelter, etc.
This attitude can be cultivated by establishing a system of bureaucracies (paid for almost entirely by the rich) that provide free handouts to everybody else, while nurturing a sense of perpetual resentment among the people receiving the handouts toward those who provide the wherewithal to satisfy their ever-increasing expectations.
The many are not generally aware that nearly 90% of the income taxes that sustain our government, and all the services "it" provides, are collected from the top 20% of income earners. And, if the many were aware of that, do you think they'd feel like saying "Thank you"? Not likely.
Because they've been conditioned to believe that the rich don't deserve their wealth, and that they, the beneficiaries of all those taxes paid by the rich, deserve that money more than the people who earned it. What did the beneficiaries do to deserve it? Nothing. But they exist, and therefore they're entitled to things they cannot afford, so the money should be taken from those who can afford it and redistributed to them.
Having undermined the cultural values that provide the basis for a prosperous economy, by fostering a culture of dependency on ever-expanding government services, you now have popular support for the next step, which is to penalize production. You do that by regulating industries to the point where the cost of doing business is too great to justify the returns, forcing businesses to either downsize, go bankrupt, or relocate offshore.
That increases unemployment, creating an even greater dependency on government services. At the same time, it reduces production so there's less wealth to tax, and less money coming into the system to support the ever-increasing demands.
At that point, you've got a self-perpetuating cycle, with ever-increasing demands on the system and ever-diminishing resources from which to draw to provide for them. To add fuel to the firestorm, you can use the increasing demands as an excuse to raise taxes on the remaining top producers even more, driving more employers out of business or offshore, creating an even larger non-productive class, and further accelerating the drain on the system...
But why stop there? At this point, the economy is so unstable, it can be toppled with ease. To finish it off in style, all that's required is to spend like a drunken sailor. Get the nation so far in debt to hostile foreign powers that they won't accept our IOUs any more. Print up fiat money and dilute our currency to the point that the whole world loses confidence in it and the G20 proposes a new international monetary standard. Then distract the citizens by holding contests in Congress to see who can spend money the fastest, and call it a "stimulus plan."
At that point, the death spiral reaches critical mass. That's were we are today. How did we get to this point? Well, it could just be a combination of entropy, ignorance, and well-intentioned idiots. Or it could be that there are those who actively seek to undermine our economy to bring our nation to its knees. For what purpose? That depends on who's pulling the strings. I concede that this begins to sound a little paranoid from someone who usually dismisses conspiracy theories.
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On the other hand, it's hard to imagine that anyone, especially the leaders of our nation, are stupid enough not to realize they're doing the exact things required to accelerate the collapse of our already destabilized economy. And, if they're not stupid, then they must have a reason for what they're doing.
© 2009 Margaret Goodwin - All Rights Reserved